Chidambaram, an ass

P Chidambaram, India's illustrous union finance minister, is an ass. The most stubborn one.

He had his way and the petroleum ministry slapped a Rs 2 hike on diesel users and Rs 3 rise on petrol users. All Chidambaram had to do stop this 'tease' was tinker with excise duty. He refused.

Instead he waxes eloquence on how a cut in excise duty would dry up about or over Rs 3,600 crore worth taxes. He needs no prodding, as any amateur economist will spell out the effect of consistent fuel price hikes on an oil dependent economy.

The fact remains a litre of petrol costs about Rs 18 sans the taxes, while you and me pay about Rs 45 for the same.

Chidambaram for his part pulled a fast one by tampering with the excise duty earlier. While reading out his much appreciated Union budget, he adjusted the excise duty and termed it revenue neutral, which was not the case. He incidentally nudged up the share of taxes on oil!

Guess, he is increasingly turning vulnerable and even losing grip.

The allegation against Arun Shourie's "suspicious sell off of national assets", his slippery vague comments on "strategic equity sale in PSU's" and his frivolous stance on several issues like the oil price, fringe benefit tax, just shows how detached he could be from reality.

Media too seems to be singing his song. Haven't seen any editorial snubbing him. Why a business magazine recently went to the extent of calling him the best finance minister or the best performing minister (I aint remember which one).

Wake up to the pulse of the masses Chidambaram, the UPA govt or u'll be the next NDA.

PS: The oil price hike comes just after oil prices on the international stock markets fell as industrialised countries prepared to tap stockpiles of emergency oil.